SBA Loans: Your Small Business Lender in 18 Counties from South Carolina to Northern Florida. CADDA is a non-profit economic development lender helping the small businesses owner, or future business owner, find their way through all the SBA requirements. Established in 1976 as a Certified Development Company by the Small Business Administration, CADDA is able to deliver the SBA 504 program.
SBA 504 loans are an excellent tool for financing fixed assets such as land, buildings, and equipment on long-term basis. Many loans can be established below-market, with fixed rates. CADDA's service area for the SBA 504 market includes the entire state of Georgia, North Florida, and lower South Carolina.
SBA 504 loans are an excellent tool for financing fixed assets such as land, buildings, and equipment on long-term basis. Many loans can be established below-market, with fixed rates. CADDA's service area for the SBA 504 market includes the entire state of Georgia, North Florida, and lower South Carolina.
Services
CADDA is a private, non-profit, economic development lender that offers both credit enhancement programs as well as incentive programs to the banks and small business concerns. It was established in 1976 as a result of a grant from the Economic Development Administration (EDA). CADDA is governed by a very active and supportive Board of Directors consisting of 17 members representing 9 counties in Georgia.
The purpose of this program is to provide flexible financing to small businesses for development and growth when conventional financing is not available. The cash or equity injection of the company may vary from 10% to 50%, depending on the collateral pledged to secure the loan, the viability of the project, and the profitability of the company.
The purpose of the RLF is to provide credit enhancement to participating banks to facilitate the financing of business and industry in the 9 county region served by CADDA, resulting in a positive economic impact through the creation and/or retention of jobs. The maximum loan amount is $500,000 (total loan request) and the minimum is $10,000 (total loan request).
The purpose of the program is to provide financing to economically disadvantaged business owners or potential business owners. The loan proceeds are to be used for the expansion of an existing business or the establishment of a new business in the Glynn County area. Eligible businesses include most for-profit businesses (proprietorships, partnerships, or corporations).
The purpose of the Intermediary Relending Program (IRP) through the USDA is to finance business facilities and community development projects in rural areas (see "Service Area" for definition). The funds must be used for community development projects, establishing new businesses and/or expanding existing businesses, creating employment opportunities and/or retaining existing jobs.
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